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Banking Awareness Questions for IBPS PO and Clerk Mains 2017

Dear Readers,

Banking Awareness for IBPS Exam 2017

Just a few days are left forIBPS PO Mains. It is time to pace up your preparation of Banking Awareness for IBPS PO and Clerk Mains. These questions related to Banking Awareness will also help you in preparing for other upcoming banking recruitment examination.

Q1. The Indian government has announced an allocation of ________________ over 2 years for the recapitalization of public sector banks.

(a) Rs 30.74 lakh crore

(b) Rs 2.11 lakh crore

(c) Rs 17.53 lakh crore

(d) Rs 12.43 lakh crore

(e) Rs 9.27 lakh crore

S1. Ans.(b)

Sol. The Indian government has announced an allocation of Rs 2.11 lakh crore over 2 years for the recapitalization of public sector banks.

Q2. India broke into the top 100 in the World Bank’s Ease of Doing Business rankings, notching up the biggest improvement among all countries on the back of big gains on a number of measures. Which country has topped in Ease of Doing Business rankings 2017?

(a) Norway

(b) Singapore

(c) New Zealand

(d) Switzerland

(e) Denmark

S2. Ans.(c)Sol. India broke into the top 100 in the World Bank’s Ease of Doing Business rankings, notching up the biggest improvement among all countries on the back of big gains on a number of measures. New Zealand has topped in Ease of Doing Business rankings 2017.

S3. Ans.(e)Sol. China-sponsored Asian Infrastructure Investment Bank (AIIB) approved USD 2 million loan (Rs. 13,000 crores) for five projects in Andhra Pradesh. The five projects include two roads and buildings department, one each for rural safe drinking water department, municipal and urban development department and Panchayat Raj department.

Q4. The Reserve Bank of India has imposed a monetary penalty of ____________ on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.

(a) Rs 2 crore

(b) Rs 4 crore

(c) Rs 10 crore

(d) Rs 6 crore

(e) Rs 12 crore

S4. Ans.(a)Sol. The Reserve Bank of India has imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.

Q5. The State Bank of India has slashed IMPS charges up to 80 percent. IMPS stands for-

(a) Immediate Payment Sending

(b) Immediate Payment Sale

(c) Immediate Payment Solution

(d) Immediate Payment Service

(e) Immediate Payment System

S5. Ans.(d)Sol. The State Bank of India has slashed Immediate Payment Service (IMPS) charges up to 80 percent. If the users are doing an online transaction of money after selecting IMPS option, then they will have to pay 80% less charge than what they used to pay earlier.

Q6. Which Bank has tied up with Small Industries Development Bank of India (SIDBI) to launch a Rs200 crore fund for providing loans to micro, small and medium enterprises (MSMEs) recently?

(a) AU Small Finance Bank

(b) State Bank of India

(c) ICICI Bank

(d) India Post Payments Bank

(e) Punjab National Bank

S6. Ans.(a)Sol. AU Small Finance Bank tied up with Small Industries Development Bank of India (SIDBI) to launch a Rs200 crore fund for providing loans to micro, small and medium enterprises (MSMEs).

Q7. The Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act. Who is present Chairman of Central Board of Direct Taxes (CBDT)?

(a) Ashwani Lohani

(b) Sushil Chandra

(c) Ajay Tyagi

(d) Rajeev Kumar

(e) Anita Karwal

S7. Ans.(b)Sol. The Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act. Sushil Chandra is the Chairman of Central Board of Direct Taxes (CBDT).

Q8. Where is the headquarters of IDFC Bank Limited?

(a) Kolkata

(b) Bengaluru

(c) Mumbai

(d) Chennai

(e) New Delhi

S8. Ans.(c)Sol. Headquarters of IDFC Bank Limited is in Mumbai.

Q9. Which among the following country has pledged an additional amount of USD 100 million towards the UN partnership fund, scaling up its support to sustainable development projects across the developing world?

(a) USA

(b) France

(c) Japan

(d) India

(e) China

S9. Ans.(d)Sol. India has pledged an additional amount of USD 100 million towards the UN partnership fund, scaling up its support to sustainable development projects across the developing world.

Q10. AU Small Finance Bank has received Reserved Bank of India (RBI) approval to operate as Scheduled Commercial Bank recently. Where is headquarters of AU Small Finance Bank?

(a) Chandigarh

(b) Patna

(c) Gandhinagar

(d) Varanasi

(e) Jaipur

S10. Ans.(e)Sol. Headquarters of AU Small Finance Bank is in Jaipur, Rajasthan.

S11. Ans.(d)Sol. Yes Bank, unveiled a superior payment wallet service, BHIM Yes Pay by fully integrating the application with all the IndiaStack APIs and NPCI Products. Bharat Interface for Money (BHIM) is an app that lets you make simple, easy and quick payment transactions using Unified Payments Interface (UPI).

Q12. Which among the following bank has announced the launch of India's first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in India?

(a) ICICI Bank

(b) State Bank of India

(c) Kotak Mahindra Bank

(d) Bank of Baroda

(e) South Indian Bank

S12. Ans.(a)Sol. ICICI Bank announced the launch of India's first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in India. With this new feature in the ICICI Bank's Money2India app, an NRI customer can instantly initiate a remittance to his/her existing payees in India with just a simple voice command to Apple's virtual voice assistant, Siri, on their iPhone/iPad.

Q13. State Bank of India (SBI) has announced sanction of credit facilities amounting to Rs2,317 crore to corporates for financing Grid Connected Rooftop Solar projects under an SBI-World Bank program. Who is present chairman of SBI?

(a) Sunil Mehta

(b) Urjit Patel

(c) Rakesh Sethi

(d) Arundhati Bhattacharya

(e) Rajnish Kumar

S13. Ans.(e)Sol. State Bank of India announced sanction of credit facilities amounting to Rs2,317 crore to corporates for financing Grid Connected Rooftop Solar projects under an SBI-World Bank program. Rajnish Kumar is the Present Chairman of Mumbai-headquartered SBI.

Q14. The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction. It is a unique _______ digit alphanumeric code that is assigned to a legal entity.

(a) 7 digit

(b) 12 digit

(c) 20 digit

(d) 9 digit

(e) 8-11 digit

S14. Ans.(c)Sol. The LEI is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction. It is a unique 20 digit alphanumeric code that is assigned to a legal entity.

Q15. Small Industries Development Bank of India (SIDBI) is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises in India. Who is present Chairman & Managing Director (CMD) of SIDBI?